The Kaspa blockchain's KAS token is the best-performing top 100 cryptocurrency of the past seven days.There is always action in some pocket of the crypto market even when the headline numbers don't show much going on, just as the still surface of a pond can mask the extent of the dynamic ecosystem below.has pulled the total market value of digital assets lower by 3.4% to $2.22 trillion, painting a dour picture of the crypto market.
That decline, however, obscures the 26% surge in the Kaspa blockchain's KAS token. The token, ranked 27th in market value, has topped 18 cents and is nearing the record high of $0.196 reached early this month, according to data source CoinGecko. That makes KAS the best-performing coin among the top 100 digital assets in terms of market value.
KAS' weekly gain is accompanied by a 58% surge in futures open interest to $65 million, with funding rates holding positive, according to data source Coinglass. That shows an influx of new money on the bullish side and validates the rally in price.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.